VNET Group says 0% convertible notes due 2026 are putable

By Marisa Wong

Los Angeles, Dec. 28 – VNET Group, Inc. notified holders of its 0% convertible senior notes due 2026 (Cusip: 90138VAB3) that they have the right to require the company to repurchase for cash any or all of their notes on Feb. 1, according to a press release.

The repurchase price is par plus accrued interest to but excluding the repurchase date.

Holders may exercise their repurchase right beginning at 9 a.m. ET on Jan. 2 and ending at 5 p.m. ET on Jan. 30.

Holders may withdraw any previously tendered notes at any time prior to 5 p.m. ET on Jan. 30.

As of Dec. 28, there was $600 million principal amount of the notes outstanding.

Citicorp International Ltd. is the trustee. Citibank, NA is the paying agent.

Based in Beijing, VNET is a carrier- and cloud-neutral internet data center services provider in China.

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